Waterproof fitness tracker Market Size, Share, Growth, and Industry Analysis, By Type (Wristbands, Watches and Others), By Application (Specialist Retailers, Online, Others) and Regional Insight and Forecast to 2032

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WATERPROOF FITNESS TRACKER MARKET REPORT OVERVIEW

The Waterproof fitness tracker Market size was valued at approximately USD 3.8 billion in 2023 and is expected to reach USD 6.5 billion by 2032, growing at a compound annual growth rate (CAGR) of about 6.2% from 2024 to 2032.

The waterproof fitness tracker market is seeing a surge in growth, driven by several factors. Waterproof Fitness trackers are the electronic devices that help in tracking activity of an individual such as heart rate, oxygen levels, steps and calorie intake. The word ‘waterproof’ here resembles the waterproof technology that is in-built in these devices because of which they do not get harmed if they are even submerged under water. Due to this latest technology they can be even used while swimming or other water activities.  There is increasing awareness among the consumers regarding the rising cardiovascular diseases as the lifestyle and habits of consumers is very bad nowadays. These fitness trackers are mostly used in wearable devices such as smartwatches and smartphones. Many people who are into physical activities like  walking, running or cycling track their time, steps or how much calorie they burnt with the help of these fitness tracker devices. They are mostly used by the swimmers for underwater swimming activities.

 COVID-19 Impact: Market Growth upscaled by Pandemic due to virus

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The covid-19 virus has increased the use of waterproof fitness trackers. The sale of these devices has increased suddenly as people want to track their heart rate and other issues. There was a shortage of oximeters in the markets because of which many people who were suffering from the virus used fitness trackers to track their oxygen levels.

LATEST TRENDS

Smart watches segment to Drive Market Growth

Wearable fitness tracking gadgets such as smartwatches have swiftly established themselves as an important part of consumer electronics. The most advantageous component of the smartwatch has been health monitoring. It helps the fitness enthusiast by providing important health parameters and provides information related to the diseases. As people are anxious about their health, it has thereby increased the shipments of fitness trackers. Because every smartwatch has a fitness tracker, its popularity is skyrocketing. Moreover, there is a huge adoption of smartwatches among people these days and mobile chipset companies are also investing in these devices. For instance, Qualcomm, a mobile chipset company, is heavily investing in Smartwatches and powering smartwatches for children, seniors, and adults. This data also helps doctors by rendering some sophisticated and important information related to patients. This data assists medical experts in solving challenges such as determining the influence of a new drug or continuously monitoring the recovery state of an operated patient, among other things.

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WATERPROOF FITNESS TRACKER MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Wristbands, Watches and Others

• Wristband: the band that is worn around the wrist is known as wristband. They help in tracking the activity of an individual.

• Watches: they are worn on the wrist. Smart watches are introduced in the market which have other features rather than telling time such as they act as a calling device, they track the activity of an individual and even help in monitoring the oxygen level or heart rate.

• Others: Smart rings, clip-on trackers, earbuds with fitness tracking and smart clothing are the other categories of waterproof fitness trackers.

By Application

Based on application the global market can be categorized into Specialist Retailers, Online, Others

• Specialist retailers: there are many specialist retailers who sell different types of devices that have fitness trackers inbuilt in them such as waterproof wristbands, watches and smart rings.

• Online: there are many companies, brands or retailers who sell fitness trackers online.

• Others: Fitness and sports club, sports team and athletic programs, travel and hospitality department, educational institutions and integration of fitness trackers in wellness programs are the other applications of waterproof fitness trackers market.

DRIVING FACTORS

Increasing awareness related to health and fitness to Boost the Market

One of the key driving factors in the global waterproof fitness tracker market growth is the increasing awareness related to health and fitness. There is adoption of these fitness trackers by many people around the globe due to their ability of tracking the activities of an individual. This is also enhanced by the launch of numerous fitness apps and smart wearables. These sophisticated gadgets offer personalized exercise routines and dietary advice, simplifying the tracking of their daily behaviors. Therefore, the demand for these devices is being fueled by the various advantages these technologies provide.

Rise in health disorders to Expand the Market

Another driving factor in the global waterproof fitness tracker market is the rise in health disorders. Wearable gadgets are the best option to track the fitness of a person. hey assist physicians in tracking patient health and enable them to decide on several methods to improve the condition through real-time monitoring, action cues, feedback, and goal setting. Thus, increasing cases of chronic diseases and rising awareness regarding the potential benefits of fitness-tracking devices among the population further boost demand for them.

RESTRAINING FACTORS

Data Safety and Privacy Concerns to Potentially Impede Market Growth

One of the key restraining factors in the global waterproof fitness tracker market is the data safety and privacy concerns. The data collected by fitness monitoring devices is mainly personal, entailing the user's information, which includes weight, birth date, photos, GPS coordinates, or social data, heart rate, steps, and background data used by the device. Besides the highly personal data, the primary concern is data theft. Thus, leaving the person open to privacy destructions that may cause them harm. However, advancements in materials and construction techniques are continuously being explored to address this restraining factor and improve the durability of fitness trackers  in the market.

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WATERPROOF FITNESS TRACKER MARKET REGIONAL INSIGHTS

North America  Region Dominating the Market due to concern towards health issues

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is the most dominating region in the waterproof fitness tracker market. The region's dominance is attributed to the rising concern towards health issues. The people residing in the North American region are suffering from chronic diseases such as heart related problems, diabetes and blood pressure. There is an increase in adoption of the gadgets that help in tracking the fitness of a person which propels the demand for fitness monitoring products. Major manufacturers of these gadgets who have in-built fitness trackers installed in them, hail from the North America region only. Moreover, The increasing income of the people and the growing industries are combining together to make the region more dominating the global market share.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Innovation and Market Expansion

The waterproof fitness tracker market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of tracker options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs and smart features in fitness trackers, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Top Waterproof fitness tracker Companies

• Apple: (U.S)
• Under Armour: (U.S)
• Epson: (Japan)
• Fitbit: (U.S)
• Garmin: (U.S)
• Huawei: (China)
• Honor: (China)
• SAMSUNG: (South Korea)
• Moov: (U.S)
• Withings: (France)
• Xiaomi: (China)
• Letscom: (China)
• Polar Electro: (Finland)

INDUSTRIAL DEVELOPMENT

June 2021: Samsung Electronics Co., Ltd. introduced its One UI Watch user experience at the Mobile World Congress (MWC) with a new unified platform built in collaboration with Google LLC.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.